Smartwatches have definitely cemented their foot in the industry and the only leading smartwatch of any importance is the Apple Watch; its sales cross that of Rolex. Despite the only similarity between traditional watches and smartwatches, that they are strapped to the wrists, they are both considered watches and this has Swiss watchmakers worrying. Watchmakers have been trying all the tricks up their sleeves to avoid a Quartz Crisis-like scenario by doing things like incorporating smartwatch-like features to traditional watches and collaborating with fashion brands.
Smartwatches have presented themselves as a fashion accessory by offering a variety of interchangeable straps for the same watch, sometimes these straps are exclusively designed fashion brands and sold along with the watch. Swiss watchmakers also adopted this strategy with customizations in straps and attachment lugs and even swapping displays; which has caught fashionistas’ attention. Luxury watches are seen at par on the same stage as the smartwatches and this has driven up sales. Since smartwatches cost nearly as much as low-end Swiss watches, the budget Swiss watches have seen a spike in sales. Smartwatches definitely add to the watch collection but it’s still sensible to have a traditional watch rather than looking for that all-in-one watch miracle.